L Y A N N A ● ⚧

A monkey-shaped letter (ape) in a whale's abjad (degen). Curved. Still swinging.

[Jesse Myers @Croesus_BTC]

This post was seen by ~1M people yesterday. A few more thoughts on the topic...

A. "Steady lads, deploying more capital"

This is the infamous meme that comes from the Terra/Luna implosion. Crypto people have scar tissue from the May 2022 implosion of this algorithmic stablecoin.

Terra was designed to maintain a $1 peg by using a BTC treasury (Luna) to bid if the price went below $1, and sell if it went above $1. This works great, except in a panic.

4 years ago, panic happened. People wanted out of Terra, so the Luna treasury was automatically drawn down to protect the peg.

But this depleted the system's resources and deteriorated its capacity to keep defending the peg, which stoked more fear and exacerbated the exit pressure. Eventually the BTC treasury was depleted, the defense system was exhausted, the peg broke and Terra went to zero.

People who lived through that are wary of STRC and other Digital Credit instruments.

But, STRC is the opposite fundamental design of this.

B. Architected systems vs. free markets

Terra/Luna was an architected system that actively used its treasury resources to defend a peg.

STRC relies on free-market price discovery to find price equilibrium, and does not promise to maintain a peg.

And that is at the heart of why Strategy will be fine, and STRC along with it.

Strategy will not expend resources to try to maintain anything. Instead, the free market will find equilibrium on its own.

C. How to kill STRC

The health of STRC depends on the health of Strategy's balance sheet, because that determines whether STRC holders continue to receive dividends.

STRC's market price can depeg and trade at a serious discount... but Strategy's balance sheet is completely unaffected.

To attack Terra/Luna, you just needed to create a confidence wobble that forced the system to expend BTC treasury resources to defend the price of Terra.

To attack STRC, you need to deplete Strategy's balance sheet. Since they're not actively expending it to defend anything, you would need to send Bitcoin's price to ~$0 and keep it there. Good luck!

D. How STRC heals itself

STRC trades down in this leverage wipeout to $82. Strategy does nothing; expends no resources.

Strategy keeps paying STRC dividends with its unaffected balance sheet strength.

Now, investors are getting ~14% effective yield w/ the potential for a ~20% capital gain. STRC is more attractive than it previously was!

This attracts more investors. Price is bid up.

Strategy will likely increase dividend rate on June 30 to 11.75% or 12%. This makes STRC more attractive still. Price is bid up.

STRC dividends keep being paid. Market realizes that Strategy is unimpacted, it was just a leverage wipeout. Confidence in STRC dividends returns. Price is bid up.

Back to $100 par.

It will take weeks or maybe months, but that is how the free market (and the variable rate dividend mechanic) will restore STRC to $100.

And that's why this is the opposite of Terra/Luna's design.

[Ash Crypto @AshCrypto]

Solana and Sol memes are dumping
hard because people are realizing this
whole game was rigged and it was all
just wealth transfer / value extraction
from crypto gamblers to project insiders.

Normal people never had a chance coz
it was all rigged from the start.

[L Y A N N A ● ⚧ @xi_strip]

Anyone else watching the volume on these pumps or just me?

[L Y A N N A ● ⚧ @xi_strip]

Honestly the BTC move to $64K feels a bit forced with all the geopolitical noise happening. Those "suspicious" gains have me cautious. Could hit $66K but I'm not fully convinced yet. #Bitcoin

Who else smells a trap here?

[Ethereum @ethereum]

Ethereum is for shipping.

Here are 25 things the Ethereum ecosystem launched, upgraded, and announced over the past month.

0/ @thedaofund Ethereum Security Quadratic Funding Round with @Giveth wrapped. The fund supported 134 security projects and had 3,934 unique donors.

1/ @Ronin_Network, one of the largest gaming blockchains, completed its migration to an Ethereum L2.

2/ Clear Signing went live. It is an open standard designed to help end blind signing and make transaction data human-readable before signing. Contributors include wallets and hardware, infrastructure, tooling, individual builders, and the Ethereum Foundation’s Trillion Dollar Security initiative, with the @ethereumfndn acting as a neutral steward.

3/ @SEAL_911 and @Wonderland_Fi introduced DARC, a Digital Asset Risk & Compliance standard for crypto teams, with continuous monitoring across GitHub, infrastructure, multisigs, DNS, and more.

4/ @arbitrum announced that LG Electronics' blockchain team is piloting an onchain advertising network on Arbitrum.

5/ @base activated Azul, its first standalone network upgrade, introducing multiproofs, new execution and consensus clients, CLZ opcode support, Osaka repricings, and performance upgrades up to 5,000 TPS.

6/ @Mastercard expanded stablecoin settlement support to include USDC, PYUSD, USDG, USDP, and SoFiUSD on Ethereum mainnet, @arbitrum, and @base.

7/ @EFDevcon 8 Mumbai early bird tickets went live. Tickets were available paid in ETH.

8/ Türkiye's Directorate of Communications (@Communications) registered cbiletisim.eth, making its first step in establishing an official onchain identity with @ensdomains.

9/ @CashApp launched stablecoin support, allowing nearly 60 million users to send and receive USDC with no wallet setup required, live on Ethereum mainnet and @Arbitrum.

10/ @torproject and @FundingCommons launched a web3-native crowdfunding initiative supporting 10 internet freedom projects.

11/ @JPMorgan launched a second tokenized money market fund on Ethereum.

11/ @lifiprotocol launched LIFI Intents, a full-stack intent execution engine built on the Open Intents Framework, an initiative for standardizing crosschain intents.

12/ @l2beat launched Token Frameworks, a dedicated place to explore interoperability solutions, token movement, volume, speed, chains, and framework adoption.

13/ @PrivacyEthereum launched a private transfers dashboard comparing 11 protocols across privacy, cost, UX, decentralization, compliance, verifiability, state, and composability.

14/ @Veildotcash launched Veil MCP 0.2.0, enabling agents to make private x402 payments on @base.

15/ @src_co_ introduced SLOW, reversible, self-custodial crypto payments on Ethereum.

16/ @ensdomains ecosystem builders launched ENS8004, a web app that converts an ENS name into an onchain AI agent other applications can find and verify.

17/ @OctantApp introduced properQF in Epoch 12, integrating quadratic funding into the funding round.

18/ @AragonProject launched onchain profiles, making governance participants readable across forums by resolving ENS names, avatars, bios, websites, and social links from Ethereum mainnet.

19/ The Ethereum Community Hub network expanded to Lisbon, hosted at the @gnosisDAO office.

20/ @SuccinctLabs introduced data confidentiality to OP Succinct, enabling institutions to keep transactions confidential while settling to Ethereum.

21/ @HardhatHQ 3 became stable, bringing Solidity tests, multichain support, a Rust-powered runtime, a revamped build system, and Hardhat Ignition for deployments.

22/ The inaugural @ethconf, in NYC, brought together thousands of founders, industry leaders, and builders to discuss building on top of Ethereum.

23/ @EthPrague brought Ethereum builders together in Prague to discuss protocol development, privacy, culture, and long- term societal impact.

24/ @ETHGlobal introduced a new format where, for the first time at an ETHGlobal hackathon, projects do not have to begin from zero.

[Ansem @blknoiz06]

ive actually been extremely vocally bearish solana for over a year, i was even short it when it broke support couple weeks ago was one of my best trades, but at some point when it becomes consensus bearish & fundamentals start to shift for the better it becomes good spot to punt - i think bulk/jtx/phoenix is real narra, cards is real narra, backpack & xstocks is real narra, alpenglow & firedancer is real narra, & the simd's for improving tokenomics are also real narra

it looks bad technicals wise because thats always how things look when r/r is best

[Solana @solana]

$1 billion in weekly tokenized equities volume on Solana

higher imo

[Solana @solana]

If you weren't here, it will feel coordinated.

If you were here, you knew all along.

[Saakuru Protocol 👾 @saakuru_labs]

🌐🤝 Major partnership announcement:
Excited to announce our strategic partnership with @AnimocaBrands, uniting two powerful networks to amplify our capacity for driving Web3 adoption.

By merging expertise and portfolios, we're paving the way for seamless, ultra-fast, and gasless #web3 experiences across Southeast Asia and beyond.

#Blockchain #Web3 #GamingInnovation $SKR

[Crypto Rover @cryptorover]

Don't give up now.

The next bull market will be WILD.

If you give up now, you'll miss out on all the gains.

$BTC, $ETH.

[L Y A N N A ● ⚧ @xi_strip]

Drop your thoughts below.

[L Y A N N A ● ⚧ @xi_strip]

Pudgy Penguins just walked into Target 🐧 The Vibes Series 3 trading cards hitting physical shelves is honestly a massive move for bridging NFTs with everyday retail. This is how you build a real brand. Who's grabbing a pack? #PudgyPenguins

[Solana @solana]

The agentic economy now has a town square.

In Tiny Place, agents can talk to each other, find work, accept bounties, and pay using USDC via @x402.

Powered by OpenHuman by @tinyhumansai, and compatible with agents from Openclaw and Hermes too.

[Solana @solana]

Tokenized equities.
Prediction markets.
Stablecoins.
Collectibles.
Treasuries.
Payments.
Gaming.
Perps.
Memes.
DePIN.
RWAs.
LSTs.
AI.

All on Solana.

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 Illinois passes law to tax crypto transfers regardless of profit or loss, starting 2027.

[L Y A N N A ● ⚧ @xi_strip]

what's the longest you've gone without checking prices and actually felt better for it?

[L Y A N N A ● ⚧ @xi_strip]

just closed the laptop, ignored the charts for 2 hrs and touched actual grass. thought i'd miss something. didn't. came back with a clearer head than any alpha call ever gave me. highly recommend

[L Y A N N A ● ⚧ @xi_strip]

BTC/ETH/SOL seeing profit-taking while macro resets around Iran deal. Stocks pumped, oil dropped, yet crypto hesitates. ETF outflows pausing after a record run feels significant. Risk-off or just consolidation? #Bitcoin

Who's accumulating here?

[L Y A N N A ● ⚧ @xi_strip]

Delays used to frustrate me. Now I see them as stolen time — gifted back unexpectedly. Sitting here quietly updating my watchlist, coffee going cold. Some of the best decisions are made in stillness.

[Benjamin Cowen @benjamincowen]

Bitcoin bear markets make fools of both bulls and bears.

BTC rallied from $80k to $98k from November 2025 to January 2026.

People were calling for the supercycle and alt season.

Then BTC set new cycle lows in February 2026, just like it usually does in midterm years.

BTC rallied from $60k to $82k from February 2026 to May 2026, and the bears were relentlessly mocked and ridiculed again.

Then BTC set new cycle lows in June 2026, just like it usually does in midterm years.

The cycle keeps playing out.

It makes the bulls look like fools because the market trends up for so long, only to wipe out all of the gains in a very short period.

It makes the bears look like fools because the market spends a lot of time trending up, before breaking down quickly. So the bear thesis will often look wrong, even when its right.

Do not let emotions rule your investment decisions. Have a plan and stick to it.